Vietnam and China will step up collaboration in social affairs and people’s livelihoods under a freshly-signed memorandum of understanding. (Photo: VNA)

The MoU aims at materialising the common perceptions reached by high-ranking leaders of the two Parties and States on boosting economic cooperation, including development collaboration, and the implementation of the Global Development Initiative (GDI).

Accordingly, both sides agreed to study and carry out projects in the above-mentioned domains to better socioeconomic conditions, thus improving the livelihoods of people, particularly those living in mountainous, remote, and ethnic minority-inhabited areas.

In the coming time, the Vietnamese Ministry of Planning and Investment and the CIDCA will take specific actions to effectively implement projects using the aid from the Chinese Government, and other aid projects within the GDI. They will focus on carrying out those using the 600 million CNY (83.74 million USD) aid provided by the Chinese Government for the Vietnamese Government.